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Fiscal Policy Across Levels of Government in Times of Crisis

Author

Listed:
  • Hansjörg Blöchliger

    (OECD)

  • Monica Brezzi

    (OECD)

  • Claire Charbit

    (OECD)

  • Mauro Migotto

    (OECD)

  • José Maria Pinero Campos

    (OECD)

  • Camila Vammalle

    (OECD)

Abstract

The world is recovering from the worst economic and financial crisis since the Great Depression. The recovery will probably be shallow and government deficits could remain very large over the next few years in a number of countries. The crisis has a negative impact not only on central governments, but also on sub-national governments. While the situation varies from country to country, depending on the institutional environment, types of revenue sources and spending responsibilities, an increasing number of sub-national governments are facing budget imbalances, as the economic slump is putting upward pressure on spending, while pushing down tax revenues.

Suggested Citation

  • Hansjörg Blöchliger & Monica Brezzi & Claire Charbit & Mauro Migotto & José Maria Pinero Campos & Camila Vammalle, 2010. "Fiscal Policy Across Levels of Government in Times of Crisis," OECD Working Papers on Fiscal Federalism 12, OECD Publishing.
    • Handle: RePEc:oec:ctpaab:12-en
    DOI: 10.1787/5k97b10wqn46-en
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    Cited by:

    1. Juan Pablo Jiménez & Leonardo Letelier & Ignacio Ruelas & Jaime Bonet-Morón, 2021. "Reglas fiscales subnacionales: Revisión empírica, experiencias internacionales y sus desafíos en la nueva institucionalidad fiscal post COVID," Documentos de trabajo sobre Economía Regional y Urbana 300, Banco de la Republica de Colombia.
    2. Salvador Barrios & Diego Martínez-López, 2017. "Fiscal equalization schemes and subcentral government borrowing," Chapters, in: Naoyuki Yoshino & Peter J. Morgan (ed.), Central and Local Government Relations in Asia, chapter 4, pages 130-160, Edward Elgar Publishing.
    3. Agnieszka Kozera & Aldona Standar & Łukasz Satoła, 2020. "Managing Rural Areas in the Context of the Growing Debt of Polish Local Government Units," Agriculture, MDPI, vol. 10(9), pages 1-25, August.

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